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Realty price hike highest in Bangalore: Economic survey

Realty price hike highest in Bangalore: Economic survey

Apnaloan.com Research Bureau

01 Mar 2008

According
to the Economic Survey 2007-08, Indian Information technology hub, Bangalore has seen the highest rise in
property prices in the period of 2001-2005, based on the data on Housing Price
Inflation that has been included for the first time in the Economic Survey.

National
Housing Bank (NHB) data shows that real estate prices rose by 28.8 per cent year-on-year
between 2001 and 2005.

The city's
Housing Price Index (HPI) went up nearly 175 points during this period.

Delhi saw an average price increase of
19.1 per cent, followed by the Greater Mumbai City Corporation (GMCC) areas,
where the prices went up by 18.6 per cent, and Kolkata Municipal Corporation,
where the prices went up by 17.7 per cent.

The HPI
for Delhi City saw a rise of 101 points, followed
by GMCC (98 points) and Kolkata (92 points).

Kolkata Municipal Area saw an average price hike
of 12.1 per cent while Mumbai saw an increase of 13 per cent. Kolkata
Metropolitan Area saw an increase of 14.5 per cent.